Global Operating Room Equipment Market Size To Worth USD 43.9 Billion by 2032 | CAGR of 5.2%

Global Operating Room Equipment Market Size To Worth USD 43.9 Billion By 2032

According to a research report published by Spherical Insights & Consulting, the Global Molecular Modelling Market Size to grow from USD 31.5 billion in 2021 to USD 43.9 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period.

Browse key industry insights spread across 210 pages with 124 market data tables and figures & charts from the report on “Global Operating Room Equipment Market Size, Share, and COVID-19 Impact Analysis, By Product (Anesthesia Devices, Endoscopes, OR Tables, OR Lights, Electrosurgical Devices), By End-use (Hospitals, Ambulatory Surgical Centers), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2032 " Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/operating-room-equipment-market

Patients get surgical treatments and procedures in the operating room (OR) to treat a variety of pathological and physiological conditions. The operating room provides a clean, safe, and inert environment for surgical procedures. Therefore, it is crucial to provide dependable equipment, which leads to surgical procedures that are successful. The last ten years have seen equipment advancements, such as surgical navigation systems, speed up operating room procedures. Surgeons and interventionalists have more latitude and control because to modern operating room technology. Operating rooms with precise instruments and equipment ensure better patient care and enhanced operational effectiveness.

COVID 19 Impact

The COVID 19 epidemic has had a big effect on the operating room equipment industry worldwide. Due to the stringent regulations put in place by the regulatory authorities in aim to prevent any non-emergent surgeries, the number of surgeries has decreased significantly since the epidemic started. According to an article in the National Institute of Health from October 2021, there has been a worldwide decline in surgeries of 42.8%. Having said that, the loosening of lockdown constraints is the primary cause of the rising number of surgeries in the current environment. On the other side, a JKNS article from July 2022 reports that the frequency of spine procedures has increased tremendously.

The growing need to provide improved patient care systems in a sterile environment across various healthcare facilities is the main major factor driving the growth of the worldwide operating room equipment market. In addition, a rise in surgical procedures being carried out globally is expected to boost growth in the market for operating room equipment. Additionally, due to a number of benefits such as less traumatic treatments, lower costs, and shorter hospital stays, minimally invasive procedures are growing in popularity among patients. As a result, all these factors are increasing the demand for better and more effective operating room equipment, which will lead to market growth.

The market for operating room equipment will also be significantly influenced by the growing number of hospitals worldwide. The main drivers of the growth of the worldwide operating room equipment market are rising urbanisation, as well as rising incidences of pathological and physiological disorders. Additional factors accelerating market expansion include the rise in regulatory approval and the cost of healthcare infrastructure. The worldwide operating room equipment market will benefit from the growing number of research and development initiatives. In addition, expanding new indications and target applications related to a strong product pipeline given by market participants will support market expansion.

The usage of operating room equipment is being restricted by rising costs, particularly in low-income countries, and this will have an impact on the expansion of the worldwide operating room equipment market. On the other side, the underdeveloped nations' lack of trained healthcare workers will hurt the global operating room equipment industry. In addition, the advent of unfavourable conditions brought on by the pandemic will act as additional restraint on the market's expansion.

Product Insights

The Anesthesia device segment to dominate the market with the largest market share over the forecast period

Based on the product, the global operating room equipment market is segmented into Anesthesia Devices, Endoscopes, OR Tables, OR Lights, Electrosurgical Devices. Among these, the anesthesia device segment is anticipated to dominate the market with the largest market share over the forecast period. This market is expanding as a result of both technological development and an increase in the usage of anaesthetic devices in surgical facilities. Most surgical procedures involve the use of anaesthesia machines. The highest revenue share is also influenced by the growing use of anaesthetic information management systems. The number of procedures has increased as a result of the rise in chronic diseases. Because anaesthetic must be delivered in an adequate and precise manner during surgical procedures, anaesthetic equipment plays a significant role in the growth of this market. Additionally, the number of senior people who are susceptible to various degenerative diseases and ailments is growing, which is boosting the demand for procedures.

On the other hand endoscopes segment is anticipated to witness the fastest market growth over the forecast period. The expansion of this market over the coming years is being driven by expanding preferences for endoscopic operations, minimally invasive procedures, and growing awareness of technological advancement in surgical procedures. The demand for the segment is also being fueled by an increase in occurrences of cancer, gastrointestinal ailments, and lifestyle-related diseases.

End Use Insights

Hospital segment holds the highest market share over the forecast period.

On the basis of end use, the global operating room equipment market is segmented into hospitals and ambulatory surgical centers. Among these, hospital segment holds the highest market share over the forecast period. As operating rooms generate the most money, hospitals are investing more and more in their modernization. In addition, the rising demand for hybrid operating rooms and investments made in cutting-edge infrastructure and technology to achieve effective results are fueling the segment's expansion.

Ambulatory surgical centres on the other hand is anticipated to witness the fastest market growth over the forecast period. The demand from key market participants in surgical care, which includes doctors, patients, and insurers, is related to the growth of ambulatory surgical centres. The market is anticipated to increase as a result of the rising demand for ambulatory surgical centres and the high standard and efficiency of medical practises.

Regional Insights

North America is dominating the market with the largest market share over the forecast period

North America is dominating the market with the largest market share over the forecast period. The rising frequency of chronic diseases in the region, a sizeable geriatric population, an improved healthcare infrastructure, and an increase in ambulatory surgery facilities are important market growth drivers. Increased adoption of technological advancements and rising demand for minimally invasive procedures are other factors driving growth in the field.

Asia Pacific region, on the other hand witnessed the fastest market growth over the forecast period. Important market growth factors include the increased prevalence of chronic diseases in the area, a sizable geriatric population, an enhanced healthcare infrastructure, and an increase in ambulatory surgery facilities. Other factors influencing the field's growth include rising demand for minimally invasive procedures and increased use of technology advancements.

Major vendors in the Global Operating Room Equipment Market include MIZUHO OSI, KONINKLIJKE PHILIPS N.V., GENERAL ELECTRIC COMPANY, KARL STORZ GMBH & CO. KG, MEDTRONIC PLC, STERIS PLC, STRYKER CORPORATION, HILL ROM HOLDING INC. (WELCH ALLYN, DRÄGER SAFETY AG & CO. KGAA, GETINGE GROUP.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Operating Room Equipment Market based on the below-mentioned segments:

Operating Room Equipment Market, Product Analysis

• Anesthesia Devices
• Endoscopes
• Operating Room Tables
• Operating Room Lights
• Electrosurgical Devices
• Surgical Imaging Devices
• Patient Monitors
• Others

Operating Room Equipment Market, End User Analysis

• Hospitals
• Ambulatory Surgical Centres

Operating Room Equipment Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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